“From the study we did, the average rate for insuring a Model S or Model X is 5% lower than other premium vehicles and if you actually pick the right insurance provider it can actually be 20% to 30% lower. For death or serious injury in an S or an X, it’s really hard to do that,” Musk was quoted as saying.

He added that Tesla engineering also makes the computerized electric cars safe, including its emergency braking system, which continuously improves with each software update.

Musk also explained that the Model S and Model X have crumple zones that are engineered for safety since they are longer than that of the standard vehicle, so that even the car the Tesla collides with will sustain minimal damage.

The crumple zone is a structural feature in a vehicle that absorbs kinetic energy during a collision.

“So the safety is not just good for people in the car, it actually helps if you do have a collision with another car,” Musk explained.

Insurance Business Musk tells Tesla owners to switch insurers
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2017-06-08T04:21:00-07:00
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Switch. This was Tesla chief executive Elon Musk’s advice to owners of the premium electric car if they feel they are being overcharged for...